Fall in price boosts ceramic strap sales

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Sales of ceramic watch straps have increased by 47.3% in volume, according to a report by GfK.

With more mass market brands releasing new ceramic ranges, the feature has become an accessible luxury.

In value, ceramic watch straps have failed to grow at the same rate as volume. The market witnessed a 10.2% increase in value, which is largely thought to be related to a 25% decline in average prices.

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Overall, the watches market has increased by 1.6% in value. This is being driven by department stores, mail order house channel and the multiple jewellers, according to GfK.

Average prices are up across the market in all channels, with the largest increase being seen in multiple jewellers at 22%.

Leanne Whittaker, account manager at GfK, comments that the watch market has been growing in value throughout 2011 and into 2012.

“Swiss high end brands are driving strong value increase due to increasing prices, but volumes are falling. It is going to be difficult for the industry to keep maintaining this value growth if units continue to decline. This is why features like ceramic and chronograph are important to keep consumers excited in new products and interested in investing in a new watch,” she said.

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